Shiba Inu Soars After Fed Decision, But Will It Survive BoJ Rate Hike?

The Shiba Inu token has seen a price surge of 2.3% in a day, trading at $0.000005029, according to CoinGecko data.

This comes after the Federal Reserve raised interest rates by 25 basis points to a range of 3.75%-4.00%, with 16 out of 18 officials expecting another hike before 2026 ends.

The token's holder count has reached 1.691 million, adding nearly 6,000 new wallets in two weeks, despite the wider market being weak.

Shibburn data shows a burn rate spike of 715.92% in the past 24 hours, with the single largest burn removing 30,364,246 tokens in one transaction.